EUR/USD Price Analysis: Rebound targets the 1.2150 level

EUR/USD bounces off lows near 1.1980 recorded on Wednesday.
The Fibo level at 1.1976 reinforces this initial contention area.

Pablo Piovano FXStreet

EUR/USD manages to find fresh buying interest and regains the 1.2000 mark and beyond in the second half of the week.

The continuation of the move higher lower is seen meeting the initial support at the Fibo level (of the November-January rally) at 1.2064 on its way to the monthly peak at 1.2150 (April 29).

Below the 200-day SMA (1.1942) the stance for EUR/USD is seen shifting to negative.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.2042
Today Daily Change	59
Today Daily Change %	0.31
Today daily open	1.2005

Trends
Daily SMA20	1.2018
Daily SMA50	1.1948
Daily SMA100	1.2051
Daily SMA200	1.1947

Levels
Previous Daily High	1.2027
Previous Daily Low	1.1986
Previous Weekly High	1.215
Previous Weekly Low	1.2017
Previous Monthly High	1.215
Previous Monthly Low	1.1713
Daily Fibonacci 38.2%	1.2002
Daily Fibonacci 61.8%	1.2011
Daily Pivot Point S1	1.1985
Daily Pivot Point S2	1.1965
Daily Pivot Point S3	1.1944
Daily Pivot Point R1	1.2025
Daily Pivot Point R2	1.2046
Daily Pivot Point R3	1.2066

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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